Fuller & Thaler Asset Management, Inc.

New 13F: Q3 2026

Fuller & Thaler Asset Management, Inc. filed its 13F for the quarter ended Sep 30, 2026 on Nov 13, 2026: $4.1B in AI and semiconductor stocks; $752.5M bought and $1.4B sold against its previous quarter, at the quarter's prices.

Fuller & Thaler Asset Management, Inc. declares $5.7B in 54 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 15.4% of its $36.7B 13F portfolio. Largest positions: Lumentum (0.60% of the company) and Bloom Energy (0.50% of the company). Over time: $5.7B in 54 of these companies for Q2 2026, against $419.9M in 26 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $692.4M and sold $1.6B of these stocks, at the quarter's prices: a net sale of $879.7M; 7 new positions and 2 sold out.

Performance of its AI picks

The AI-stock portfolio Fuller & Thaler Asset Management, Inc. declared for Q2 2026 (Form 13F), held unchanged, returned -18.1% in Q3 2026 (SMH -7.1%), ranked 1737 of 1,785 active managers. Over the last 12 months, quarter after quarter: +77.6% (SMH +87.2%), ranked 67 of 1,360 active managers. Over three years, quarter after quarter: +392.9% (SMH +325.8%), ranked 16 of 784 active managers. Over five years, quarter after quarter: +580.0% (SMH +389.8%), ranked 2 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

  1. Lumentum (LITE): $464.8M, 541,679 shares, 0.60% of the company, 1.3% of its portfolio (trimmed this quarter); held since Q3 2024
  2. Bloom Energy (BE): $448.0M, 1.5M shares, 0.50% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2024
  3. Astera Labs (ALAB): $414.1M, 857,286 shares, 0.49% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2024
  4. DigitalOcean (DOCN): $413.2M, 2.6M shares, 2.2% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2023
  5. EMCOR (EME): $364.9M, 439,676 shares, 1.0% of the company, 0.99% of its portfolio (added this quarter); held since Q4 2019 or earlier
  6. Vertiv (VRT): $337.5M, 1.0M shares, 0.26% of the company, 0.92% of its portfolio (trimmed this quarter); held since Q4 2022
  7. Modine (MOD): $298.2M, 1.1M shares, 2.1% of the company, 0.81% of its portfolio (added this quarter); held since Q4 2023
  8. Credo (CRDO): $269.3M, 990,437 shares, 0.53% of the company, 0.73% of its portfolio (trimmed this quarter); held since Q2 2024
  9. Comfort Systems USA (FIX): $259.3M, 130,833 shares, 0.37% of the company, 0.71% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  10. Cirrus Logic (CRUS): $253.2M, 1.7M shares, 3.4% of the company, 0.69% of its portfolio (added this quarter); held since Q4 2019 or earlier
  11. Plexus (PLXS): $220.2M, 732,397 shares, 2.7% of the company, 0.60% of its portfolio (added this quarter); held since Q4 2024
  12. FormFactor (FORM): $189.5M, 1.2M shares, 1.5% of the company, 0.52% of its portfolio (added this quarter); held since Q4 2025
  13. MaxLinear (MXL): $164.2M, 1.3M shares, 1.4% of the company, 0.45% of its portfolio (new position this quarter)
  14. SiTime (SITM): $137.0M, 183,771 shares, 0.61% of the company, 0.37% of its portfolio (added this quarter); held since Q4 2025
  15. Viavi (VIAV): $131.1M, 2.7M shares, 1.1% of the company, 0.36% of its portfolio (added this quarter); held since Q1 2026

By sector

Biggest changes this quarter

Schedule 13D/G declarations

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